According to Top 50 Brands Nigeria, a firm that evaluates and rates top corporate brands in Nigeria, this evaluation will be done using Top of the Mind survey, a test of consumer’s cognitive ability of major brands in Nigeria, “which from observations are influenced by relationship and affinity”.
“To this end, Chief Communication Officers/ Head of Corporate Communication and Chief Marketing Officers are required to mention 10 corporate brands they could easily recall, aside from their own brands. The outcome will determine the Most Popular Brands in the country for the year.
“The TOM is also the first component of the seven variables in brand strength measure (BSM index), the model they use to evaluate the 50 Most Valuable Brands in the country for the year, Top 50 Brands Nigeria,” a statement by the firm read in part.
The Chief Executive Officer of Top 50 Brands Nigeria, Taiwo Oluboyede, while speaking in a virtual chat with journalists said, brand evaluation had become a vital component of every living brand.
Oluboyede was quoted as saying, “It is now a necessity to know how your brand is doing and how it’s standing in the market place. As we all know, branding has gone beyond just one of marketing activities; it has become a vital stakeholder’s metrics for measuring success.
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